Dogecoin Faces Resistance at $0.10 Amid Recovery Attempts
- Dogecoin started a recovery wave from $0.090 and climbed above $0.095.
- The price is currently trading below the $0.096 level and the 100-hourly simple moving average.
- A key declining channel with support at $0.090 is forming on the hourly chart of the DOGE/USD pair.
- Immediate resistance is near the $0.0985 level, with major resistance around $0.102.
- Initial support on the downside is near the $0.09240 level, with main support at $0.085.
Dogecoin’s price has seen a recovery wave starting from the $0.090 zone but faces significant hurdles as it approaches the $0.10 mark, struggling to maintain upward momentum due to active bears near this resistance point.
Despite climbing above key levels like $0.095, Dogecoin remains under pressure below its major moving averages, indicating potential for further declines if it fails to surpass critical resistance zones such as $0.102 in upcoming sessions.
